Shell CEO to Split Up Renewables and Low-carbon Division

Ron Bousso
Friday, March 31, 2023

Shell is splitting up its renewables and low-carbon division as part of CEO Wael Sawan's shake-up to boost the energy giant's returns.

The changes come as Sawan, who took office at the start of the year, has signaled in recent weeks that Shell is considering ditching oil reduction output targets as part of its energy transition plans.

Shell is eliminating the global role of executive vice president for renewable generation held by Thomas Brostrom, who joined the company in 2021 from Danish renewables giant Orsted, a company spokesperson said.

Wind and solar power businesses will now fall under the regional heads of Shell Energy, reporting to Executive Vice President Steve Hill.

At the same time, Shell named Anna Mascolo as executive vice president for low carbon products and sectors, including biofuels, carbon capture and nature-based solutions.

Hill and Mascolo report to Huibert Vigeveno, who heads the downstream and renewables division.

The changes were first reported by Bloomberg.

The changes to the renewables business come two months after Sawan announced plans to combine the oil and gas production and liquefied natural gas (LNG) divisions and place the renewables business in the downstream division.

Sawan has vowed to improve the company's performance as it seeks to reduce greenhouse gas emissions in the coming decades. Shell reported a record profit of $40 billion last year.

The spokesperson said combining downstream and renewables in a single directorate strengthens the businesses by bringing together all the elements of low- and zero-carbon energy.

Brostrom will remain at the company as senior vice president for Shell Energy in Europe and Asia, overseeing all offshore wind globally, he said.

(Reuters - Reporting by Ron Bousso Editing by David Goodman and Josie Kao)

Categories: Energy Renewable Energy Industry News Offshore Wind Activity Europe People & Companies Offshore Wind Offshore Wind Offshore Wind Offshore Wind Offshore Wind Offshore Wind Offshore Wind Offshore Wind

Related Stories

Denmark's Semco Maritime to Acquire German Firm Wind Multiplikator

French EDF Joins Two Irish Floating Wind Projects

Offshore Wind: RWE Becomes Sole Owner of 1.6 GW Nordseecluster

Current News

Prysmian Group Taps YIT for Cable Tower Work in Finland

Denmark's Semco Maritime to Acquire German Firm Wind Multiplikator

Canada: Equinor Delays Bay du Nord Offshore Oil Project Up to 3 Years

PGS Wins 3D Survey Deal in the Mediterranean

Subscribe for OE Digital E‑News